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Dec 7, 2013
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. >>> the economy is climbing back. i'm christine romans. the economy is growing at the fastest pace since the beginning of 2012. driving growth? businesses. do they expect demand from consumers to surge and what happens if consumers are not buying? another critical sector to watch, housing. sales of new homes up 25% in october. the sharpest gain in 35 years. positive jobs numbers show the economy is healing. 203,000 jobs added in november. the u.s. on track now to create the most jobs since 2005. the jobless rate lowest in five years. stock market may have taken a breather, but it is a banner year for stocks. 25% of americans hold three quarters of all stocks. many americans are more concerned where the next meal is coming from than the 401(k). fast food workers striking against poverty wages. the economy, jobs, minimum wage. that is the president's agenda for the next three years. alex is the business director and chairman of the economic advisers. also with me is a former adviser to presidential candidate mitt romney. austin, let me start
. >>> the economy is climbing back. i'm christine romans. the economy is growing at the fastest pace since the beginning of 2012. driving growth? businesses. do they expect demand from consumers to surge and what happens if consumers are not buying? another critical sector to watch, housing. sales of new homes up 25% in october. the sharpest gain in 35 years. positive jobs numbers show the economy is healing. 203,000 jobs added in november. the u.s. on track now to create the most jobs...
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Dec 4, 2013
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it's going to actually constrict the economy. so all these assaults on government and what the government does are really, you know, efforts to hurt ourselves to constrain it growth. and that's what was so important about the president's speech. he's making clear how we're all better off when we ensure that everyone can reach their opportunity, that everyone can reach their full potential. and i thought that's why i agree with congressman fattah. >> at every level of the country. i'm going to have to leave it there. thank you both for your time. >>> coming up. it's working! new obama care numbers show a surge. and republicans can't take it. so they're recycling their old tactics. >>> plus, get this one. speaker boehner is blaming democrats for obstruction. sounds out of this world, right? well, today a real connection between the party and outer space. >>> and from cutting food stamps to bill o'reilly saying jesus would not be down with welfare. >>> and first dog sunny is making big news today. wait until you see why. the day we
it's going to actually constrict the economy. so all these assaults on government and what the government does are really, you know, efforts to hurt ourselves to constrain it growth. and that's what was so important about the president's speech. he's making clear how we're all better off when we ensure that everyone can reach their opportunity, that everyone can reach their full potential. and i thought that's why i agree with congressman fattah. >> at every level of the country. i'm...
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Dec 4, 2013
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. losing thrusters. i need more power. give me more power! [ mainframe ] located. ge deep-sea fuel technology. a 50,000-pound, ingeniously wired machine that optimizes raw data to help safely discover and maximize resources in extreme conditions. our current situation seems rather extreme. why can't we maximize our... ready. ♪ brilliant. let's get out of here. warp speed. ♪ a body at rest tends to stay at rest... while a body in motion tends to stay in motion. staying active can actually ease arthritis symptoms. but if you have arthritis, staying active can be difficult. prescription celebrex can help relieve arthritis pain so your body can stay in motion. because just one 200mg celebrex a day can provide 24 hour reli
rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. losing thrusters. i need more power. give me more power! [ mainframe ] located. ge deep-sea fuel technology. a 50,000-pound, ingeniously wired machine that...
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Dec 4, 2013
12/13
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ALJAZAM
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these trends are bad for our economy. one study finds that growth is more fragile and recessions are more frequent in countries with greater inequality. and that makes sense. when families have less to spend that means businesses have fewer customers. and households rack up greater mortgage and credit card debt. meanwhile concentrated wealth at the top is less likely to result in the broodly based consumer spending that drives our economy. rising inequality and declining mobility are also bad for our families and social cohesion, not just because we tend to trust our institutions less, but studies show we actually tend to trust each other less when there's greater inequality. and greater inequality is associated with less mobility between generations. that means the effects last. it creates a vicious cycle. for example, by the time she turns three years old, a child born into a low-income home hears 30 million fewer words than a child from well-off family. which means by the time she starts school she is already behind an
these trends are bad for our economy. one study finds that growth is more fragile and recessions are more frequent in countries with greater inequality. and that makes sense. when families have less to spend that means businesses have fewer customers. and households rack up greater mortgage and credit card debt. meanwhile concentrated wealth at the top is less likely to result in the broodly based consumer spending that drives our economy. rising inequality and declining mobility are also bad...
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Dec 6, 2013
12/13
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CNBC
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economy. it is a member of the g-20. it is one of the leading countries and i know guys have put money into that country who made a lot of money there. >> they're considered one of the fragile five, as we call it. so if we start to see tapering -- right. just like indonesia or india. yes. so that's an issue. >> so either the promise was delivered, but neither the catastrophe that was feared happened in that country when it turned over from white minority rule. >> yeah, no. i mean, i think -- >> it was somewhere in between. >> you're talking to somebody who continued embracing marxist policies -- >> but many people thought the country was going to go all the way down, but that didn't happen. and it didn't happen that -- the social needs versus the free market. >> well, you see, i think he came to learn that it's not about balancing the free market versus social needs, that they often converge. >> he said he had to balance the fears of the white population versus the hopes of the black populatio
economy. it is a member of the g-20. it is one of the leading countries and i know guys have put money into that country who made a lot of money there. >> they're considered one of the fragile five, as we call it. so if we start to see tapering -- right. just like indonesia or india. yes. so that's an issue. >> so either the promise was delivered, but neither the catastrophe that was feared happened in that country when it turned over from white minority rule. >> yeah, no. i...
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Dec 6, 2013
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they didn't try to go after the economy. they should have tried to fix the economy. instead they focused time on a broken program by pulling in conservative concepts into a health care plan. >> that's -- >> oh. >> that's the reality. the main fundamental promises. keeping your plan, your doctor, saving $2500 per family per year, not true. you may trust him but you are one of five people in the country that believe him. >> you know me. >> i totally agree. there was over simplification. >> why are you having a hard time admitting it's not true? >> just the individual market there are ebbs and flows. that's natural. not everyone can keep their plan. >> they knew, read the november 2 edition of the wall street journal. they were debating in jewel of 2010 whether to tell the truth. they decided against it. here you are. he could have said it better. could have done this. they knew from the beginning. it was over simplification. absolutely true. >> they crafted the talking points to be that way. don't lie, emily. >> emily? >> i'm not going to agree. >> that's the truth. th
they didn't try to go after the economy. they should have tried to fix the economy. instead they focused time on a broken program by pulling in conservative concepts into a health care plan. >> that's -- >> oh. >> that's the reality. the main fundamental promises. keeping your plan, your doctor, saving $2500 per family per year, not true. you may trust him but you are one of five people in the country that believe him. >> you know me. >> i totally agree. there was...
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Dec 8, 2013
12/13
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we know we don't have the skill set in our economy. there is just another report this past week about where america stands when it comes to the rest of the world in terms of educational skills. we have a lot of work to be done. so these are decimal points we're talking about. it's not really dealing with the larger, big picture issue about the american economy. >> katty kay, a final point on this? the president talked about a higher wage hike this week, and it's just not going to happen. it's not going to happen if you look at the current political climate. so a lot of these things still go unaddressed. >> he was out making a political pitch this week, but you have individual states, individual cities that are doing things on the minimum wage, but we have the prospect of unemployment benefits being rescinded the beginning of next year. that could again have another knock on effect of growth if people are not getting that kind of money. the underlying issues of this economy are still fragile at the moment, and the political consensus in
we know we don't have the skill set in our economy. there is just another report this past week about where america stands when it comes to the rest of the world in terms of educational skills. we have a lot of work to be done. so these are decimal points we're talking about. it's not really dealing with the larger, big picture issue about the american economy. >> katty kay, a final point on this? the president talked about a higher wage hike this week, and it's just not going to happen....
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Dec 7, 2013
12/13
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." >>> a possible tipping point for the economy. 203,000 jobs created last month. but as low-wage workers take to the streets it looking more like one america with two economies. i'm christine romans. this is "your money." america on track to create nearby 2.3 million jobs this year. but the quality of those jobs could spark the beginning of a 21st century labor movement. fast food workers protesting in 100 cities across the country this week. they're calling for a living wage, $15 an hour. they are not alone in their call for better pay. >> we know there are airport workers and fast food workers and nurse assistants and retail salespeople who work their tails off and are still living at or barely above poverty. >> the president has called for raising the minimum wage to $9 an hour. he also supports a bill in congress to raise it to $10.10 but fast foods workers say $15 an hour the living wage they need. the question, a living wage, who pies? could raising the minimum wage ultimately hurt the very worker rs it's meant to help? it's all in the eye of the beholder. f
." >>> a possible tipping point for the economy. 203,000 jobs created last month. but as low-wage workers take to the streets it looking more like one america with two economies. i'm christine romans. this is "your money." america on track to create nearby 2.3 million jobs this year. but the quality of those jobs could spark the beginning of a 21st century labor movement. fast food workers protesting in 100 cities across the country this week. they're calling for a...
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Dec 5, 2013
12/13
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is the better cure to improve the economy in general. you have to remember in the past 20 years or so. we hiked the minimum wage ten times federally. and since 1956 it was done five times. and we looked at businesses. i immediately looked at 15 year stock charts. i picked mcdonalds. and we look at stocks and how they perform. they inform people at minimum wages and both of their stocks hit all- time highs and that is since they were publicly traded since the 80s. and minimum wage hurts people. people say costs go up and the prices get more expensive. and the dollar menu goes away. and then the supporters. believe it or not costco was supportive of raising minimum wage but not to $15. >> it is a bug jump from $8 to faep. >> and especially for the small business. >> john boehner was talking about it this woke. he believes what? if you raise the unemployment minum wage. >> you get less jobs and fewer jobs, exactly. and that has been more of a conservative view point. but there are conservatives, and the state of new jersey run by chris chri
is the better cure to improve the economy in general. you have to remember in the past 20 years or so. we hiked the minimum wage ten times federally. and since 1956 it was done five times. and we looked at businesses. i immediately looked at 15 year stock charts. i picked mcdonalds. and we look at stocks and how they perform. they inform people at minimum wages and both of their stocks hit all- time highs and that is since they were publicly traded since the 80s. and minimum wage hurts people....
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this is fascism, an economy that's supposedly privately owned but in reality, completely controlled, manipulated and as michelle said subsidized by government. we have billions of taxpayer dollars going tohose -- i thought they were evil. they were supposedly evil. >> they are. >> the insurance companies to offset their losses, to share in their profits, subsidies for them and the unions get a free pass. this is obama's animal farm. >> when we were researching the story we pulled up that video tape of president obama and guess how he ended that sentence again, period. no more taxpayer funded bailouts, period. michelle, help me out here. >> what bothers me is that it seems every morning when we wake up there is a new fix to the law or we learn about this little known provision that they snuck in. this is providing this president with a blank check to the u.s. treasury for him to basically save him from the mess that he's in that day. every day there is something new. why not scrap the entire thing and start over again? >> there should be a fix when it's necessary. that's how effective
this is fascism, an economy that's supposedly privately owned but in reality, completely controlled, manipulated and as michelle said subsidized by government. we have billions of taxpayer dollars going tohose -- i thought they were evil. they were supposedly evil. >> they are. >> the insurance companies to offset their losses, to share in their profits, subsidies for them and the unions get a free pass. this is obama's animal farm. >> when we were researching the story we...
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Dec 4, 2013
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>> auto makers symbol of detroit's economy sold more cars than expected in november. but can the pace of sales continue into the new year? >> and falling behind, american students are lagging other nations in reading, math and science. what changes need to be made to ensure future generations can compete in a global economy? we have that and more tonight on "nightly business report" for this tuesday, december 3rd. >>> good evening everyone and welcome. i'm tyler mathisen. remember how great the month november was for stock investors, records and consecutive weeks of gains? hold that thought because so far december has gone the other way. fast. in fact, the dow and s&p 500 today ended lower for a third straight session. logging their biggest three-day decline in two months. some on wall street say stock prices are too high and they are taking profits and there is a pull back and this is the start of it, or maybe consumer spending, soggy so far this holiday season or the fed's seeing the blowout auto sales? we'll start pairing back on stimulus soon. whatever the reason
>> auto makers symbol of detroit's economy sold more cars than expected in november. but can the pace of sales continue into the new year? >> and falling behind, american students are lagging other nations in reading, math and science. what changes need to be made to ensure future generations can compete in a global economy? we have that and more tonight on "nightly business report" for this tuesday, december 3rd. >>> good evening everyone and welcome. i'm tyler...
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Dec 8, 2013
12/13
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wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. >>> my name is anita moorjani, and i died on february 2, 2006. when i was really young, i felt my life was really pretty magical. we lived in a condominium in hong kong. i lived with my parents and my brother. i went to a british school where the kids spoke in english. and then of course, at home with my parents, we would speak in our native language, we call it sindhi but it is an indian dialect. >> walk me through what it was like walking around with so many cultures going around. >> i got bullied very, very badly at school. because i was pretty much the only indian child in my year. i wanted to be like them. i would want to color my hair to make it lighter. and i would use bleach on my skin and so i really wanted to fit in. at the same time, when i met indian people, when my parents tried to arrange a marriage for me and i was meeting other sindhi men, i didn't feel like i fit with them either. >> let's talk about y
wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. >>> my name is anita moorjani, and i died on february 2, 2006. when i was really young, i felt my life was really pretty magical. we lived in a condominium in hong kong. i lived with my parents and my brother. i went to a british school where the kids spoke in english. and then of course, at home with my parents, we would speak in...
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Dec 8, 2013
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our economy is improving. we have doubled our production of clean energy. doubled our traditional energy sources. we are on the brink of being as close to energy independent as any country our size could be in a very long time. we still have the best universities and companies on earth. we're the envy of the world. so i continue to have great confidence in our capacity to solve our problems. there is a specific challenge that we've got. that is a congress and this city, washington, that is gridlocked and spends too much time worrying about the next election and not the generation. the solution to that is ultimately what was envisioned by our founders. and what jack kennedy understood as well. and that's the american people. we go through these periods where our politics gets all bollucks up. the truth is when you look at our history, there's been a lot of times where congress gets stuck. but the reason we get through it is the american people have good instincts. if over and over again they see we're not addressing the core problems we have, eventually they
our economy is improving. we have doubled our production of clean energy. doubled our traditional energy sources. we are on the brink of being as close to energy independent as any country our size could be in a very long time. we still have the best universities and companies on earth. we're the envy of the world. so i continue to have great confidence in our capacity to solve our problems. there is a specific challenge that we've got. that is a congress and this city, washington, that is...
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Dec 4, 2013
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and on the topic of the economy, the november jobs report is out friday. it will be closely watched. some are expecting the unemployment rate to drop as much as .5%, not because americans are getting hired but because the dip in unemployment is due to washington removing more than one million long term unemployed people off the benefit roles. jobless benefits were 1.3 million people set out to run out on january 1st. >> yeah, there is only a few days left for congress to do that. listen, amazon made a lot of news with that drone story delivering packages. it turns out they're not alone in trying this out. >> brian, the drum wars are upon us. it's not just amazon. ups and google are also testing their own versions of delivery drones. u.p.s. neither confirming or denying the reports of the testing and a google watchdog site says the company has been testing drones as recently as february. it looks like we'll be getting drone delivery sometime soon. i'm not sure how they can get in my apartment bulgd. >> i think new york will be a nightmare when it comes to t
and on the topic of the economy, the november jobs report is out friday. it will be closely watched. some are expecting the unemployment rate to drop as much as .5%, not because americans are getting hired but because the dip in unemployment is due to washington removing more than one million long term unemployed people off the benefit roles. jobless benefits were 1.3 million people set out to run out on january 1st. >> yeah, there is only a few days left for congress to do that. listen,...
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Dec 3, 2013
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economy still weak and vulnerable. he says technology and financial sector stocks seem most stretched. he still sees value in energy and health care, so far this year the broad-based s&p 500 index is up more than 26%. >>> well, jim paulson is not buying the bubble talk, saying there is still a lot of upside in the market, jim, nice to have you with us. so tell us why you're not expecting any bubble trouble after a nobel prize winning economist says that things are vulnerable. >> you know, susie, i think the primary thing that creates sort of a bubble economy and ultimately a recession is just simply too much confidence about the future. when all the players, consumers, businesses, policy officials, everybody gets really bullish about the future they start to engage in dumb behaviors, they stretch the balance sheets, hire too many people and buy that second summer home and that is the thing that ultimately has to be corrected. and i think that confidence is better today but we're still at confidence levels that are belo
economy still weak and vulnerable. he says technology and financial sector stocks seem most stretched. he still sees value in energy and health care, so far this year the broad-based s&p 500 index is up more than 26%. >>> well, jim paulson is not buying the bubble talk, saying there is still a lot of upside in the market, jim, nice to have you with us. so tell us why you're not expecting any bubble trouble after a nobel prize winning economist says that things are vulnerable....
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export anything however we have a once in a lifetime opportunity with bitcoin to convert the she could economy into a hub for white trading pay pay and systems banking based on because let me get this straight so you're saying that you are petitioning the government to allow for cyprus to become a global hub of bitcoin activity as as and take the lead position so while other countries are thinking about it and trying to examine it like the us or the u.k. they're not sure exactly what it is and there's a lot of lobbying efforts in the banking industry really against it because it's competition cypresses now you're lobbying the government take a position this is a once in a lifetime opportunity we want to be a world leader and we want the business were open for business for a bit going is that the message i phrased that seat we want to me it makes i proved this central or went to sort of be clean trading process you know but he's got something we have about a minute left can you. some of those initiatives. if for example the government coming to a public statement could be seen as out of it what
export anything however we have a once in a lifetime opportunity with bitcoin to convert the she could economy into a hub for white trading pay pay and systems banking based on because let me get this straight so you're saying that you are petitioning the government to allow for cyprus to become a global hub of bitcoin activity as as and take the lead position so while other countries are thinking about it and trying to examine it like the us or the u.k. they're not sure exactly what it is and...
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Dec 9, 2013
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, we can empower more... people to innovate, create new technologies and jobs... and strengthen the economy. america is the world's leader in wireless. let's keep it that way. free up licensed spectrum today, so wireless... can do more for america tomorrow. where their electricity comes from. they flip the switch-- and the light comes on. it's our job to make sure that it does. using natural gas this power plant can produce enough energy for about 600,000 homes. generating electricity that's cleaner and reliable, with fewer emissions-- it matters. ♪ like a squirrel stashes nuts, you may be muddling through allergies. try zyrtec® liquid gels. nothing starts working faster than zyrtec® at relieving your allergy symptoms for 24 hours. zyrtec®. love the air. >>> they say it's gone too far. now they want to put a stop to it, some of the nation's largest technology companies have signed an open letter asking the obama administration and congress to rein in government surveillance. for more, let's go out to san francisco. cnn's dan simon is standing by with the latest. why did these technolog
, we can empower more... people to innovate, create new technologies and jobs... and strengthen the economy. america is the world's leader in wireless. let's keep it that way. free up licensed spectrum today, so wireless... can do more for america tomorrow. where their electricity comes from. they flip the switch-- and the light comes on. it's our job to make sure that it does. using natural gas this power plant can produce enough energy for about 600,000 homes. generating electricity that's...
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Dec 3, 2013
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the real issue is going to be the economy. the average wages of working americans declined in the past ten years, how do rewe restore growth in the pocket books not just in the stock market for the american people? we've got to lean in on that and start addressing the concerns of parents trying to send their kids to college, get them jobs. retirement security, these are things that have been put on the side and it's really a discredit that congress is focusing on middle class concerns. >> congressman, to that point, we're seeing a rising movement across the country in support of raising the minimum wage, something that republicans and congress seem to have no interest in doing. but are you hearing from constituents that that's a concern to them? do you think ultimately we could see enough pressure brought to bear that even republicans in congress admit that we need to raise the minimum wage that it would be good for the economy and lift a lot of people out of poverty? >> absolutely. when you see the stories about food service
the real issue is going to be the economy. the average wages of working americans declined in the past ten years, how do rewe restore growth in the pocket books not just in the stock market for the american people? we've got to lean in on that and start addressing the concerns of parents trying to send their kids to college, get them jobs. retirement security, these are things that have been put on the side and it's really a discredit that congress is focusing on middle class concerns. >>...
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Dec 8, 2013
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wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. >>> a mother's life is nearly shattered. >> it sounded like a gun shot. >> when a surprise on the road comes smashing through her windshield. >> it was actually coming directly at me. directly through the center of my chest. >> april 1st, 2011. mother of two wendy cobb is on her way to work in shelby, north carolina. >> i was a couple hours late going into work so traffic was lighter than usual. >> despite the light traffic, she is blocked by two trucks ahead of her playing a dangerous game. >> one would speed up and the other would slow down. they wouldn't let the other beside them. >> the one truck isn't letting the other truck over. cobb takes out her iphone and goes to record the logo of the truck on the right to report the dangerous behavior to the company. the other truck has no logo. cobb's own action taking out her phone and filming the scene isn't exactly safe either. but she feels confident she's in control.
wherever you are today, fidelity's guidance can help you fine-tune your personal economy. start today with a free one-on-one review of your retirement plan. >>> a mother's life is nearly shattered. >> it sounded like a gun shot. >> when a surprise on the road comes smashing through her windshield. >> it was actually coming directly at me. directly through the center of my chest. >> april 1st, 2011. mother of two wendy cobb is on her way to work in shelby, north...
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Dec 2, 2013
12/13
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CNBC
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. who found a magic seashell. it told him what was happening on the trading floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell. get live squawks right in your trading platform with think or swim from td ameritrade. >>> >>> deutsche bank put a price target on marathon citing strong portfolio among other things, it saw excellent fourth quarter refining -- so mpc shares certainly taking a rise. >>> thanks, dom. let's just check the rest of the markets for you
rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. who found a magic seashell. it told him what was happening on the trading floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he...
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Dec 5, 2013
12/13
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CSPAN
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the economy didn't always work for everyone. racial discrimination locked millions out of poverty -- or out of opportunity. women were too often confined to a handful of often poorly paid and it was only through painstaking struggle that more women, and minorities, and americans with disabilities began to win the right to more fairly and fully participate in the economy. nevertheless, during the post- world war ii years, the economic ground felt stable and secure for most americans, and the future looked brighter than the past. and for some, that meant following in your old man's footsteps at the local plant, and you knew that a blue-collar job would let you buy a home, and a car, maybe a vacation once in a while, health care, a reliable pension. for others, it meant going to college -- in some cases, maybe the first in your family to go to college. and it meant graduating without taking on loads of debt, and being able to count on advancement through a vibrant job market. now, it's true that those at the top, even in those year
the economy didn't always work for everyone. racial discrimination locked millions out of poverty -- or out of opportunity. women were too often confined to a handful of often poorly paid and it was only through painstaking struggle that more women, and minorities, and americans with disabilities began to win the right to more fairly and fully participate in the economy. nevertheless, during the post- world war ii years, the economic ground felt stable and secure for most americans, and the...
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Dec 4, 2013
12/13
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the other issue, obviously, is the economy. high unemployment, growing disparity in wealth and income in this country. >> vermont senator bernie sanders, great to have you on this morning. thanks for your time. >> thank you. >> absolutely. >>> after the president's speech on the economy this morning, he's going t stop by this afternoon's white house youth summit. the goal is to engage the so-called young invincibles, ages 18 to 35, that the white house is banking on to make obama care a success. joining me is dr. coreyhebert and elizabeth plank, executive social editor at policy mike. it's great to have you both here. elizabeth, in just a few hours policy mike is launching this week-long competition at today's youth summit. tell us about the competition and how you're hoping to engage the conversation about insurance. >> sure. we're really excited to be launching this competition today at the white house. we're going to be inviting millennials from across the country to give their ideas, their proposals and project ideas about
the other issue, obviously, is the economy. high unemployment, growing disparity in wealth and income in this country. >> vermont senator bernie sanders, great to have you on this morning. thanks for your time. >> thank you. >> absolutely. >>> after the president's speech on the economy this morning, he's going t stop by this afternoon's white house youth summit. the goal is to engage the so-called young invincibles, ages 18 to 35, that the white house is banking on...
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Dec 4, 2013
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>> i mean listen, the idea is obviously the economy gets better the odds of a reduction? asset purchases in december goes up, yields should go up and stocks down in a short term. taking a step back from the fed december meeting, no one thinks as the economy gets better and fed pulls back they're going to be able to thread this needle perfectly and no reaction in risk assets whatsoever. the question is whether or not the reaction is appropriate and more importantly sustainable. once this dislocation, people move past nervousness about the fed, once that all runs its course, the bias remains to the upside for the economy and stocks. >> diane, what your expectations throughout the december fed meeting? does anybody think anything is going to happen then sp. >> i think the fed is going to set the stage for the tapering process. they're nervous about the asset purchase program. they believe holding long-term rates lower longer for a longer period of time is a better way to go. they have to convince financial markets to do the pivot away from the asset purchases to this sort of
>> i mean listen, the idea is obviously the economy gets better the odds of a reduction? asset purchases in december goes up, yields should go up and stocks down in a short term. taking a step back from the fed december meeting, no one thinks as the economy gets better and fed pulls back they're going to be able to thread this needle perfectly and no reaction in risk assets whatsoever. the question is whether or not the reaction is appropriate and more importantly sustainable. once this...
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Dec 6, 2013
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this all speaks to an economy where the unskilled worker is getting permanent displaced. there are jobs in health care, but other than that, when i see the strikes outside mcdonald's and the folks arguing for a higher minimum wage, those jobs in particular, are they even going to exist that much longer? that's the kind of thing you automate. >> great point. one more point here. there were some good numbers in there. but we're looking at in grand scale, but the one number i thought that was bad was the labor participation rate. it barely moved. >> it barely moved. and that just speaks to the number of people who have given up entirely. when they get the call on the phone and asked are you even looking for work? no, we've given up. it's about 63% right now. so you imagine, that means that almost 40% of people out there don't consider themselves part of the workforce. they're not working. they're not even trying. that's a sad state of america. >> thanks, melissa. see you at 5:00. >> she is money. she's extremely money. look at her. >> yeah. >> meanwhile, secretary of state j
this all speaks to an economy where the unskilled worker is getting permanent displaced. there are jobs in health care, but other than that, when i see the strikes outside mcdonald's and the folks arguing for a higher minimum wage, those jobs in particular, are they even going to exist that much longer? that's the kind of thing you automate. >> great point. one more point here. there were some good numbers in there. but we're looking at in grand scale, but the one number i thought that...
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Dec 2, 2013
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has a wide range of investment choices to help you fine-tune your personal economy. call today, and we'll make it easy to move that old 401(k) to a fidelity i.r.a. avo: thesales event "sis back. drive" which means it's never been easier to get a new 2014 jetta. it gets an impressive 34 highway mpg and comes with no charge scheduled maintenance. and right now you can drive one home for practically just your signature. sign. then drive. get zero due at signing, zero down, zero deposit, and zero first month's payment on any new 2014 volkswagen. hurry, this offer ends december 2nd. for details, visit vwdealer.com today mom? come in here. come in where? welcome to my mom cave. wow. sit down. you need some campbell's chunky soup before today's big game, new chunky cheeseburger. mmm. i love cheeseburgers. i know you do. when did you get this place? when i negotiated your new contract, it was part of the deal. cool. [ male announcer ] campbell's chunky soup. it fills you up right. >>> i've been raped. i've been beaten. i've been rob and stabbed. stabbed in my neck and stabbe
has a wide range of investment choices to help you fine-tune your personal economy. call today, and we'll make it easy to move that old 401(k) to a fidelity i.r.a. avo: thesales event "sis back. drive" which means it's never been easier to get a new 2014 jetta. it gets an impressive 34 highway mpg and comes with no charge scheduled maintenance. and right now you can drive one home for practically just your signature. sign. then drive. get zero due at signing, zero down, zero deposit,...
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Dec 8, 2013
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that money goes right back into the economy. so is it -- who has the upper hand here when they look at it? do people look and go well, the stimulus, you know, may have worked. it plays out in arguments? >> part of what you're seeing with the politics is you have this dlcliff. a lot of people would be getting extended unemployment benefits and then right after christmas they wouldn't. that is the not the best way to do it. most states reduced the weeks of unemployment benefits already. that is not the way to go about it. it's to suddenly yafrpg the rug out from a lot of families that are feeling a lot of pain already. i think say little bit of -- the democrats are really going to push for this. think think there is a little queez jiness among republicans that just letting two million families all of a sudden see the end of this. >> it needs to be extended. 7% unemployment rate is where the employment rate is the typical recession is. you consider people who are underemployed and given the low wage growth, i think the economy is t
that money goes right back into the economy. so is it -- who has the upper hand here when they look at it? do people look and go well, the stimulus, you know, may have worked. it plays out in arguments? >> part of what you're seeing with the politics is you have this dlcliff. a lot of people would be getting extended unemployment benefits and then right after christmas they wouldn't. that is the not the best way to do it. most states reduced the weeks of unemployment benefits already....
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Dec 8, 2013
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. >>> next, how to understand the booming american economy. i'll ask the man who presided over great growth and some critics charge also helped create many bubbles. former fed chair, alan greenspan. >>> and as we approach the first anniversary of the new town massacre, what can the u.s. learn from other nations about gun policy. i'll take you to japan for a fascinating look at a nation that loves violent video games but has a gun death rate that is very different from america's. it's a preview of a gps special airing tonight at 7:00 p.m. eastern. >>> but first, here's my take. when nelson mandela was released from prison in 1990, i remember being struck by how old-fashioned he seemed. he spoke with the language cadence and manners from the 1930s, 40s and 1950s. he reminded me of the great national leaders of the post colonial world who led their countries to freedom. he had the same way of speaking and dressing, the same dignity and bearing, the same sense of history. and mandela was a throw back to an early time. who changed the course of his
. >>> next, how to understand the booming american economy. i'll ask the man who presided over great growth and some critics charge also helped create many bubbles. former fed chair, alan greenspan. >>> and as we approach the first anniversary of the new town massacre, what can the u.s. learn from other nations about gun policy. i'll take you to japan for a fascinating look at a nation that loves violent video games but has a gun death rate that is very different from...
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looking back you realize how good the economy's recovered. i think m&an is on a long, slow steady improvement and having the people is important and you cannot hire people and go right to a relationship. you have to hire people five, six, seven years ahead of the clients doing a transaction because you have to build trust aenl get to know your clients so the answer is, i think the market will be very good. i think the regulatory environment will pressure people to have one on one relationships with clients undisturbed by the oversight that's meant for balance sheets and i'm not saying it's bad. >> i'm not following you. >> think a lot of oversight in place is to stop massive errors, balance sheet errors. if you have a trillion dollars of derivatives, multiple sites of oversight is important. i think it's in direct contradiction. the most important thing is multikl points of information, transparency where everyone knows when's going on. this is the exact opposite. we sometimes working on a transaction right now where i would say five or six p
looking back you realize how good the economy's recovered. i think m&an is on a long, slow steady improvement and having the people is important and you cannot hire people and go right to a relationship. you have to hire people five, six, seven years ahead of the clients doing a transaction because you have to build trust aenl get to know your clients so the answer is, i think the market will be very good. i think the regulatory environment will pressure people to have one on one...
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Dec 4, 2013
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. >> this killing health benefits is shattering the economy all across the country, in all 50 states. >> of course there are death panels in there. the important thing to remember is that's just one aspect of this atrocious, unaffordable, cumbersome, burdensome, evil policy of obama's. and that is obama care. >> obama care is really, i think, the worst thing that has happened in this nation since slavery. and it is in a way, it is slavery in a way. >> howard, is this the evil empire speech reapplied to obama care? i mean, i've never heard the word evil used to many times. i love the way sarah palin is unbelievably delicious at this. she talks about and those death panels are in there. i love the way she says the death panels are in there somewhere. like they're creeping around inside. >> i mean, sam very rightly and logically said these people should stop because the president said, repeated today, and reminded them that he's going to be in office. he can veto anything. so they ought to calm down. but the fact is when you watch a few of those clips and when you talk to people in the m
. >> this killing health benefits is shattering the economy all across the country, in all 50 states. >> of course there are death panels in there. the important thing to remember is that's just one aspect of this atrocious, unaffordable, cumbersome, burdensome, evil policy of obama's. and that is obama care. >> obama care is really, i think, the worst thing that has happened in this nation since slavery. and it is in a way, it is slavery in a way. >> howard, is this the...
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that has consequences for the economy, people's ability. >> the safety net. >> the whole thing starts to crumble. i hear about red states blue states but a deeper hypocrisy. republicans have said they like devolution. they said we're going to cut subsidies, direct subsidies for state hospitals under medicaid. instead we're going to create the power of the states to opt in instead of direct subsidies people are going to get individual coverage. there's going to be more individual responsibility brought to bear. by the way, the federal government is going to cover 100% of the medicaid expansion for two years and 90% thereafter. there is literally no reason for states to opt out. they are doing so purely i had logically. in the case of georgia the government is saying the government was wrong to cut subsidies in the first place, begging for subsidies back rather than taking responsibility. >> dr. siegel, i want to ask you, in terms of this dynamic, you are familiar with many hospitals across the country. are they speaking up? are they speaking to elected representatives in state houses a
that has consequences for the economy, people's ability. >> the safety net. >> the whole thing starts to crumble. i hear about red states blue states but a deeper hypocrisy. republicans have said they like devolution. they said we're going to cut subsidies, direct subsidies for state hospitals under medicaid. instead we're going to create the power of the states to opt in instead of direct subsidies people are going to get individual coverage. there's going to be more individual...
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Dec 4, 2013
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if the economy is better, that should be better for stocks. i think the simple message is one to focus on. >> i'll quote from your note here, the only thing people are worried about is that no one is worried about anything and that isn't a real worry. >> yes. >> are you a true believer or you can't find anything to be negative about? >> the thing you want to focus on is what could cause volatility in the earnings estimates. what i learned and we got bullish about nine, ten, 11 months ago, i didn't see what could cause big volatility to the downside in earnings. to me the biggest risk from rates backing up is that you could get weakness in emerging markets. we've seen some of the big tech companies tell you that emerging market demand slow. that's the biggest and most realistic risk. the second would be they start tapering and you get a soft patch in the economy and you can't stick the taper back in the bottle so to speak. those are the realistic risk. in the interim, it seems like earnings will grow and the economy will be better in the first
if the economy is better, that should be better for stocks. i think the simple message is one to focus on. >> i'll quote from your note here, the only thing people are worried about is that no one is worried about anything and that isn't a real worry. >> yes. >> are you a true believer or you can't find anything to be negative about? >> the thing you want to focus on is what could cause volatility in the earnings estimates. what i learned and we got bullish about nine,...
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Dec 7, 2013
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and stimulate the economies in the ways we've talked about a stimulation that happens from raising the minimum wage, putting those folks on the books, earning minimum wage positions and without the kind of wage that we see and paying tacks. phillip agnew and ovik roy, thank you both for being here. phillip, thanks for your point about the kind of coalition building that is part of this strategy. i greatly appreciate it. i'm glad you've had the opportunity to break your fast and thank you for your contribution to this effort. >> thank you very much. thank you for having pe. >> thank you, ovik,ing if being here. i hope you come back. we always like an economics debate between marc morial and you. that's high "nerdland" activity. when we come back, nelson mandela's first visit to the united states after being released from prison and how he touched american lives both then and now. if you've got copd like me, hey breathing's hard. know the feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airwa
and stimulate the economies in the ways we've talked about a stimulation that happens from raising the minimum wage, putting those folks on the books, earning minimum wage positions and without the kind of wage that we see and paying tacks. phillip agnew and ovik roy, thank you both for being here. phillip, thanks for your point about the kind of coalition building that is part of this strategy. i greatly appreciate it. i'm glad you've had the opportunity to break your fast and thank you for...
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rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >> schieffer: this summer when nelson mandela's health took to the worse, i asked what nelson mandela meant to hem. powell had been invited to mandela's inaugural as military man remembers thinking that he saw something that day he would not have thought possible. white generals showing allegiance to the country as new black president. it was mandela's sense of forgiveness that powell will carry with him forever. >> when he came out of jail, he was being pestered with questions and what not. and he was asked, well, aren't you mad, what are you going to do about this? what are you going to do this these people? he said, if i felt that way, if i felt i had to do something to them i would still be in jail. my mind, my soul
rowe price, we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >> schieffer: this summer when nelson mandela's health took to the worse, i asked what nelson mandela meant to hem. powell had been invited to...
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Dec 5, 2013
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the nature of the economy looks like a republican economy, in so far as it is a very unequal one. >> the inequality causes low economic growth. you can't get job growth with these levels of poverty. you can't have the jobs that invest in health care, the tax breaks are given to the rich -- >> you have a lot less productive -- productive consumption, essentially, the money points back to the economy. >> you don't have demand because people don't have jobs or they're working at low wage work. so you don't have the demand that would spark business investment. >> and the president today i think was making this very practical case, which was interesting, he kept saying it is not ideological, this is actually the thing that is not working. i think that pragmatic argument has been a rising argument in the last few years. >> oh, no, there has been speculation on the right wing, the left wing, the data is out, it is correlated with sluggish growth. that some of the most equal societies in the world actually have the highest economic growth and the more emphasis on education. we taught the nat
the nature of the economy looks like a republican economy, in so far as it is a very unequal one. >> the inequality causes low economic growth. you can't get job growth with these levels of poverty. you can't have the jobs that invest in health care, the tax breaks are given to the rich -- >> you have a lot less productive -- productive consumption, essentially, the money points back to the economy. >> you don't have demand because people don't have jobs or they're working at...
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Dec 6, 2013
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it's good for their kids. >> it's good for the economy. >> it's good for the economy and the middle class. >> jared, in minimum wage good for the economy? you're the economist of the three of us. >> sure. very much so in the way that randi was just mentioning. obviously if you're in the bottom, say, third of the income scale, the folks who benefit from minimum wage increases, if they get a raise, if their paycheck goes up a bit, sure they're going to spend it and we're a 70% consumption economy. of course it helps in that regard. i wanted to add something to randi's analysis. it's not just that families will get more money and spend it on things they need. what we saw in the 2000s is that they'll spend more money even if they don't have it and they'll do so through credit. and we have had these massive credit bubbles that have proved to be not only unsustainable but deeply damaging when they bust. so when the economy is growing, if all that growth concentrates at the top, president obama spoke about this eloquently this week. not only is it obviously bad for low income people, but it's un
it's good for their kids. >> it's good for the economy. >> it's good for the economy and the middle class. >> jared, in minimum wage good for the economy? you're the economist of the three of us. >> sure. very much so in the way that randi was just mentioning. obviously if you're in the bottom, say, third of the income scale, the folks who benefit from minimum wage increases, if they get a raise, if their paycheck goes up a bit, sure they're going to spend it and we're a...
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is it the improving economy or is he divorced from the economy? >> it's really an important question because as susan said, it is difficult to really bounce back. if the economy does improve, that will help. no question about that. one of the things we have seen in public opinion over the last 60 days really is that this kind of base he had beneath him which is that people thought he was an honest president or a strong leader, some of that eroded significantly and i think that's the question as to whether even if the health care law seems to be working pretty well and even if the economy comes back, whether this sense of him as a weak president or somebody who was too detached has taken hold and it does divorce him from the forces that are changing the economy. >> fred, when you look at 2014, i know that it's easy to say it's going to be a bad year for the democrats because of health care and the president's job rating. you have this recovering economy. i assume that benefits all incumbent governors first. does it help democrats? >> yes, i do. i t
is it the improving economy or is he divorced from the economy? >> it's really an important question because as susan said, it is difficult to really bounce back. if the economy does improve, that will help. no question about that. one of the things we have seen in public opinion over the last 60 days really is that this kind of base he had beneath him which is that people thought he was an honest president or a strong leader, some of that eroded significantly and i think that's the...
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government shutdown and do keep the spending caps in place and don't raise taxes at a time when the economy is still weak and i think we can accomplish that over the next couple days. >> one issue still being debated extending long-term unemployment benefits. last week house mortgage leader nancy pelosi said any deal must include an extension but dick durbin said that is not the case. >> i don't think we've reached that point where we said this is it take it or leave it. what i hear from patty murray, i spoke to her the other night negotiations are making progress, moving in the right direction. >> congress has scheduled to begin its break this friday and not return until january the 7th. >>> well, a week after that deadly commuter train wreck in new york officials are upgrading signals. the new signals are expected to be up and running this morning. of course, four people were killed last sunday when a metro north train hit a stretch of track at nearly three times the speed limit. metro north now reducing the maximum speeds at 26 locations across the system. an attorney for the engineer op
government shutdown and do keep the spending caps in place and don't raise taxes at a time when the economy is still weak and i think we can accomplish that over the next couple days. >> one issue still being debated extending long-term unemployment benefits. last week house mortgage leader nancy pelosi said any deal must include an extension but dick durbin said that is not the case. >> i don't think we've reached that point where we said this is it take it or leave it. what i hear...
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the economy is looking like not great but better. does he gather some new steam from this? >> i think it's one of the cases where the reality will matter. obviously the website is working better for consumers but we don't know how well it's working for working with the insurers getting these people who are trying to enroll. the administration said 1 out of 10 people signing up, there are errors in the forms that go to the insurance companies. that also needs to work out. there's been a lot of damage to the promise he made and broke that if you liked your plan, you could keep it. whatever explanation can be made, including senator reid's kind of perplexing one, i think that cost him a lot of credibility with americans. he needs to rebuild that. >> i want to move you to a different politician. and that is bill clinton who famously gave democrats cover, as we say, and said, well, i actually think he ought to let people keep their health care coverage. caused quite the stir. he did an interview with our juan carlos lopez and talked about that moment when he said, i think the pr
the economy is looking like not great but better. does he gather some new steam from this? >> i think it's one of the cases where the reality will matter. obviously the website is working better for consumers but we don't know how well it's working for working with the insurers getting these people who are trying to enroll. the administration said 1 out of 10 people signing up, there are errors in the forms that go to the insurance companies. that also needs to work out. there's been a...
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dollars are spent on farmers markets, that money stays in local economies. we're starting to get traction there. people understand when they understand health outcomes of people living on a poor diet, educational outcomes, i think they start to take notice. >> tom, i'm going to open up to my friends in new york. we talked about income inequality in the last block. here is an example of structural, systemic failures that throwed historic highs in terms of poverty. we are talking about cuts to food stamps. i wonder from your standpoint whether you think democrats and progressives have paid enough attention to this issue, which is hunger in america, and whether democrats have ceded too much ground to the right. at this moment being where we are on poverty, we're talking about cuts to food stamps instead of at the very least maintaining funding we have. >> this is an interesting question when we've just extolled the virtue of obama's ability to negotiate. what that represents and we talk about mandela. listen, we obviously made jokes all morning about the gridlo
dollars are spent on farmers markets, that money stays in local economies. we're starting to get traction there. people understand when they understand health outcomes of people living on a poor diet, educational outcomes, i think they start to take notice. >> tom, i'm going to open up to my friends in new york. we talked about income inequality in the last block. here is an example of structural, systemic failures that throwed historic highs in terms of poverty. we are talking about cuts...